UK Government Bonds Portfolio vs All Country World Bonds To GBP Portfolio Portfolio Comparison

Simulation Settings
Period: January 1985 - March 2026 (~41 years)
Consolidated Returns as of 31 March 2026
Initial Amount: 1£
Rebalancing: at every Jan 1st
Currency: GBP
Inflation: UK
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The minimum date range must be at least 12 months. 'Date To' cannot be beyond March 2026.
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Results
30 Years
(1996/04 - 2026/03)
All Data
(1985/01 - 2026/03)
Inflation Adjusted:
UK Government Bonds Portfolio
1.00£
Invested Capital
April 1996
3.54£
Final Capital
March 2026
4.30%
Yearly Return
6.49%
Std Deviation
-31.86%
Max Drawdown
70months*
Recovery Period
* in progress
1.00£
Invested Capital
April 1996
1.73£
Final Capital
March 2026
1.84%
Yearly Return
6.49%
Std Deviation
-44.01%
Max Drawdown
71months*
Recovery Period
* in progress
1.00£
Invested Capital
January 1985
12.20£
Final Capital
March 2026
6.25%
Yearly Return
6.81%
Std Deviation
-31.86%
Max Drawdown
70months*
Recovery Period
* in progress
1.00£
Invested Capital
January 1985
3.71£
Final Capital
March 2026
3.23%
Yearly Return
6.81%
Std Deviation
-44.01%
Max Drawdown
71months*
Recovery Period
* in progress
All Country World Bonds To GBP Portfolio
1.00£
Invested Capital
April 1996
5.04£
Final Capital
March 2026
5.54%
Yearly Return
8.61%
Std Deviation
-14.31%
Max Drawdown
69months*
Recovery Period
* in progress
1.00£
Invested Capital
April 1996
2.46£
Final Capital
March 2026
3.05%
Yearly Return
8.61%
Std Deviation
-30.61%
Max Drawdown
69months*
Recovery Period
* in progress
1.00£
Invested Capital
January 1985
11.95£
Final Capital
March 2026
6.20%
Yearly Return
10.08%
Std Deviation
-22.29%
Max Drawdown
31months
Recovery Period
1.00£
Invested Capital
January 1985
3.63£
Final Capital
March 2026
3.18%
Yearly Return
10.08%
Std Deviation
-30.61%
Max Drawdown
69months*
Recovery Period
* in progress
This portfolio includes ETFs not denominated in GBP. Returns are calculated using exchange rates or, if applicable, interest rate differentials for currency hedging.

As of March 2026, in the previous 30 Years, the UK Government Bonds Portfolio obtained a 4.30% compound annual return, with a 6.49% standard deviation. It suffered a maximum drawdown of -31.86% which has been ongoing for 70 months and is still in progress.

As of March 2026, in the previous 30 Years, the All Country World Bonds To GBP Portfolio obtained a 5.54% compound annual return, with a 8.61% standard deviation. It suffered a maximum drawdown of -14.31% which has been ongoing for 69 months and is still in progress.

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Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the portfolio creators, who are the sole owners of their intellectual property. The translation of asset allocations into ETFs is based on the interpretation of LazyPortfolioETF.com and may not exactly reflect the original intent of the portfolio creators. Content is for informational, educational, illustrative, and entertainment purposes only.

Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

UK Government Bonds Portfolio
Weight
(%)		 Ticker Name
100.00
IGLT.L
iShares Core UK Gilts UCITS GBP (Dist)
All Country World Bonds To GBP Portfolio
Weight
(%)		 Ticker Name
50.00
SUAG.L
iShares US Aggregate Bond UCITS (Dist)
35.00
BNDX
Vanguard Total International Bond
15.00
EMB
iShares JP Morgan USD Em Mkts Bd
• Not denominated in GBP.
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Portfolio Returns as of Mar 31, 2026

Returns are calculated in GBP, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
Return Comparison
Capital Growth
30 Years
(1996/04 - 2026/03)
All Data
(1985/01 - 2026/03)
Inflation Adjusted:
Swipe left to see all data
Initial Amount £ Final Amount £ Total Return (%) Annualized (%)
UK Government Bonds
 1 £ 3.54 £ 253.61% 4.30%
All Country World Bonds To GBP
 1 £ 5.04 £ 404.32% 5.54%
Apr 1996 Mar 2026

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Initial Amount £ Final Amount £ Total Return (%) Annualized (%)
UK Government Bonds
 1 £ 1.73 £ 72.63% 1.84%
All Country World Bonds To GBP
 1 £ 2.46 £ 146.20% 3.05%
Apr 1996 Mar 2026

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Initial Amount £ Final Amount £ Total Return (%) Annualized (%)
UK Government Bonds
 1 £ 12.20 £ 1 120.02% 6.25%
All Country World Bonds To GBP
 1 £ 11.95 £ 1 094.70% 6.20%
Jan 1985 Mar 2026

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Initial Amount £ Final Amount £ Total Return (%) Annualized (%)
UK Government Bonds
 1 £ 3.71 £ 270.82% 3.23%
All Country World Bonds To GBP
 1 £ 3.63 £ 263.12% 3.18%
Jan 1985 Mar 2026

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Return (%) as of Mar 31, 2026
YTD
(3M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~41Y)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_uk_author.webp UK Government Bonds
-- Market Benchmark 		-1.84 -3.97 1.24 2.51 -4.27 -0.80 4.30 6.25
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_world.webp All Country World Bonds
-- Market Benchmark 		1.70 0.02 2.63 2.28 1.31 2.71 5.54 6.20
Returns over 1 year are annualized.
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Portfolio Metrics as of Mar 31, 2026

The following metrics, updated as of 31 March 2026, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 April 2025 - 31 March 2026 (1 year)
Period: 1 April 2021 - 31 March 2026 (5 years)
Period: 1 April 2016 - 31 March 2026 (10 years)
Period: 1 April 1996 - 31 March 2026 (30 years)
Period: 1 January 1985 - 31 March 2026 (~41 years)
1 Year
5 Years
10 Years
30 Years
All (1985/01 - 2026/03)
Swipe left to see all data
UK Government Bonds All Country World Bonds To GBP
Author
ASSET ALLOCATION
Stocks 0% 0%
Fixed Income 100% 100%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 2.51 2.28
Infl. Adjusted (%) -0.11 -0.34
DRAWDOWN
Deepest Drawdown Depth (%) -3.97 -4.42
Start to Recovery (months) 1* 5*
Longest Drawdown Depth (%) -1.17 -4.24
Start to Recovery (months) 4 7
Longest Negative Period (months) 5 10
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 6.00 7.66
Sharpe Ratio -0.25 -0.22
Sortino Ratio -0.32 -0.36
Ulcer Index 1.21 2.34
Ratio: Return / Standard Deviation 0.42 0.30
Ratio: Return / Deepest Drawdown 0.63 0.52
Metrics calculated over the period 1 April 2025 - 31 March 2026
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UK Government Bonds All Country World Bonds To GBP
Author
ASSET ALLOCATION
Stocks 0% 0%
Fixed Income 100% 100%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) -4.27 1.31
Infl. Adjusted (%) -8.89 -3.58
DRAWDOWN
Deepest Drawdown Depth (%) -29.16 -9.05
Start to Recovery (months) 52* 28
Longest Drawdown Depth (%) -29.16 -9.05
Start to Recovery (months) 52* 28
Longest Negative Period (months) 60* 52
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 8.90 6.10
Sharpe Ratio -0.85 -0.32
Sortino Ratio -1.11 -0.48
Ulcer Index 21.57 4.40
Ratio: Return / Standard Deviation -0.48 0.21
Ratio: Return / Deepest Drawdown -0.15 0.14
Metrics calculated over the period 1 April 2021 - 31 March 2026
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UK Government Bonds All Country World Bonds To GBP
Author
ASSET ALLOCATION
Stocks 0% 0%
Fixed Income 100% 100%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) -0.80 2.71
Infl. Adjusted (%) -4.07 -0.68
DRAWDOWN
Deepest Drawdown Depth (%) -31.86 -14.31
Start to Recovery (months) 70* 69*
Longest Drawdown Depth (%) -31.86 -14.31
Start to Recovery (months) 70* 69*
Longest Negative Period (months) 120* 85
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 8.05 8.11
Sharpe Ratio -0.36 0.07
Sortino Ratio -0.48 0.11
Ulcer Index 17.46 8.00
Ratio: Return / Standard Deviation -0.10 0.33
Ratio: Return / Deepest Drawdown -0.03 0.19
Metrics calculated over the period 1 April 2016 - 31 March 2026
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UK Government Bonds All Country World Bonds To GBP
Author
ASSET ALLOCATION
Stocks 0% 0%
Fixed Income 100% 100%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 4.30 5.54
Infl. Adjusted (%) 1.84 3.05
DRAWDOWN
Deepest Drawdown Depth (%) -31.86 -14.31
Start to Recovery (months) 70* 69*
Longest Drawdown Depth (%) -31.86 -14.31
Start to Recovery (months) 70* 69*
Longest Negative Period (months) 141 85
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 6.49 8.61
Sharpe Ratio 0.32 0.38
Sortino Ratio 0.43 0.58
Ulcer Index 10.27 5.99
Ratio: Return / Standard Deviation 0.66 0.64
Ratio: Return / Deepest Drawdown 0.13 0.39
Metrics calculated over the period 1 April 1996 - 31 March 2026
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UK Government Bonds All Country World Bonds To GBP
Author
ASSET ALLOCATION
Stocks 0% 0%
Fixed Income 100% 100%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 6.25 6.20
Infl. Adjusted (%) 3.23 3.18
DRAWDOWN
Deepest Drawdown Depth (%) -31.86 -22.29
Start to Recovery (months) 70* 31
Longest Drawdown Depth (%) -31.86 -14.31
Start to Recovery (months) 70* 69*
Longest Negative Period (months) 141 85
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 6.81 10.08
Sharpe Ratio 0.45 0.30
Sortino Ratio 0.63 0.45
Ulcer Index 8.95 6.75
Ratio: Return / Standard Deviation 0.92 0.61
Ratio: Return / Deepest Drawdown 0.20 0.28
Metrics calculated over the period 1 January 1985 - 31 March 2026
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Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

DRAWDOWN COMPARISON
Period: 1 April 1996 - 31 March 2026 (30 years)
Period: 1 January 1985 - 31 March 2026 (~41 years)
30 Years
(1996/04 - 2026/03)

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UK Government Bonds All Country World Bonds To GBP
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-31.86 70* Jun 2020
In progress
-14.31 69* Jul 2020
In progress
-12.98 31 Nov 2016
May 2019
-11.07 22 Sep 2003
Jun 2005
-10.51 20 Apr 2013
Nov 2014
-10.21 32 Jan 2006
Aug 2008
-9.68 18 Mar 2002
Aug 2003
-9.23 10 Apr 2009
Jan 2010
-8.56 9 Sep 2019
May 2020
-8.23 17 Feb 1999
Jun 2000
-8.22 16 Jun 2010
Sep 2011
-7.72 10 Apr 2015
Jan 2016
-7.34 33 Sep 2016
May 2019
-5.78 16 May 2013
Aug 2014
-5.70 13 Feb 2015
Feb 2016

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UK Government Bonds All Country World Bonds To GBP
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-31.86 70* Jun 2020
In progress
-22.29 31 Nov 1986
May 1989
-16.41 16 Dec 1989
Mar 1991
-15.84 18 Mar 1985
Aug 1986
-14.75 20 Jan 1994
Aug 1995
-14.31 69* Jul 2020
In progress
-12.98 31 Nov 2016
May 2019
-12.22 19 Feb 1994
Aug 1995
-11.07 22 Sep 2003
Jun 2005
-10.51 20 Apr 2013
Nov 2014
-10.21 32 Jan 2006
Aug 2008
-9.68 18 Mar 2002
Aug 2003
-9.23 10 Apr 2009
Jan 2010
-8.97 14 Sep 1989
Oct 1990
-8.61 5 Mar 1993
Jul 1993

Rolling Returns

By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the Simulation Settings.

You can explore the Rolling Returns for a single portfolio, or check the return differential, by switching on "Head To Head" toggle.

Rolling Returns Comparison
Annualized Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 1985 - 31 March 2026 (~41 years)


Head To Head (Ptf 1 vs Ptf 2):
UK Inflation Adjusted:

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Yearly Returns

For each year, the following table provides the return and intra-year drawdown. The highlighted returns represent the highest values for that specific year.

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UK Government Bonds All Country World Bonds To GBP
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2026
 -1.84 -3.97 1.70 -2.11
2025
 4.99 -1.24 -0.86 -7.31
2024
 -3.28 -4.44 4.14 -1.84
2023
 3.67 -6.83 2.06 -4.02
2022
 -23.86 -25.13 -3.46 -6.13
2021
 -5.20 -7.46 -1.07 -6.21
2020
 8.17 -3.23 2.70 -7.39
2019
 6.84 -3.85 5.52 -8.56
2018
 0.45 -2.71 5.79 -5.54
2017
 1.65 -2.61 -5.16 -5.73
2016
 9.99 -7.34 24.92 -4.58
2015
 0.44 -5.70 6.14 -7.72
2014
 13.61 -0.66 13.47 -1.70
2013
 -4.10 -5.78 -4.63 -10.51
2012
 2.45 -2.23 3.19 -2.06
2011
 15.35 -1.86 8.76 -4.87
2010
 7.00 -2.60 11.55 -4.71
2009
 -1.45 -4.68 -0.88 -9.23
2008
 12.67 -3.69 38.80 -2.18
2007
 5.04 -3.42 4.67 -3.22
2006
 1.27 -3.10 -8.06 -8.67
2005
 7.14 -1.24 16.70 -2.35
2004
 8.03 -2.55 -1.26 -4.29
2003
 1.87 -5.47 -2.33 -8.33
2002
 7.73 -1.85 -1.33 -9.68
2001
 5.16 -2.55 15.43 -2.00
2000
 9.38 -2.78 20.18 -2.88
1999
 -1.80 -8.23 6.02 -3.48
1998
 21.72 0.00 8.08 -5.03
1997
 16.76 -1.82 9.75 -4.73
1996
 7.48 -2.89 -1.37 -4.98
1995
 16.80 -0.34 21.62 -2.62
1994
 -6.76 -12.22 -10.55 -14.75
1993
 22.98 -1.17 16.67 -8.61
1992
 19.33 -1.61 35.01 -6.04
1991
 18.88 -0.65 23.01 -2.36
1990
 10.42 -8.46 -10.56 -14.64
1989
 7.82 -1.76 26.66 -4.88
1988
 6.61 -1.68 12.54 -8.05
1987
 19.28 -6.00 -20.51 -20.51
1986
 9.10 -7.30 11.75 -3.83
1985
 12.11 -1.97 -1.02 -15.84
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